Our frequently asked questions are designed to help answer all your questions relating to logbook loans and help you get the information you need. For any more questions, feel free to contact us.

What is a logbook loan?

A logbook loan, or log book loan, is a loan secured against your vehicle. It allows you to unlock the value in your vehicle without having to sell it. The lender holds on to your logbook for the duration of the loan, but you get to keep the vehicle and keep on driving it as normal. You are not allowed to sell the vehicle until the loan is paid in full.

What are the requirements for a logbook loan?

We do our best to help as many customers as we can, as quickly as we can. To qualify for one of our Logbook Loans, we need to confirm 3 things: your identity, your ownership of a vehicle and your ability to make repayments. Our friendly team will talk you through all three of these items at application stage. Here is a brief summary of our requirements – we will need you to:

  • Be over the age of 18 and a UK resident;
  • Be able to show you can comfortably afford the repayments;
  • Have a photo ID (passport, driving license or CIS card); and
  • Own a vehicle which is clear (or nearly clear) of finance and which is taxed, MOT’d and insured.

How much can I borrow?

You could borrow anything from £250 all the way up to £50,000. The amount for which you are eligible will be calculated based on the value of your vehicle and how much you can afford to pay on a weekly or monthly basis.

Can I settle my loan early?

All customers have the right to settle their loan at any time. Depending on how early you settle, you could be entitled to a rebate. You can contact us at any time to request a settlement figure. Of course, the earlier you settle your loan the greater the rebate you will receive on the original total amount payable!

Can I still be approved with bad credit and CCJs?

Yes, we consider everyone and make a decision based on the affordability of the loan, not just on your credit score.

How soon can I receive my loan?

In most cases we can get you your money on the same day. At your appointment we will take you through all the documentation and make sure you can comfortably afford the repayments. All being well, you will receive your money there and then.

Do you charge any fees?

We do not charge any set up fees when you take a loan with us. You may however incur charges if you fail to make your payments on time such as court fees or repossession expense for the vehicle.

Do you lend against motorcycles and vans?

Yes! We lend against all types of vehicles including motorcycles and vans. You just need to make sure the vehicle is roadworthy, taxed, MOT’d and insured.

What will happen to my car?

A logbook loan is secured on your vehicle. We keep hold of your logbook (V5) for the full term of the loan but you keep driving the vehicle as usual. Once the loan is repaid you will receive the logbook (V5) back.

How and when do I repay my loan?

We offer a flexible solution with log book loans ranging from 12 months to 36 months. You can repay us by debit card, bank payment or in cash at any of our branches.

What happens if I cannot make repayments?

If you fall into arrears, the most important thing you can do is keep in contact with us. We will do everything possible to work with you if you fall on hard times. You should be aware however that a logbook loan is secured against your vehicle and if you are unable to make payment or refuse to comply with mutually agreed alternative measures, your vehicle may be at risk of repossession and we might also consider taking legal action against you, which could affect your credit rating.